Publicação
Market power and integrated regional markets of electricity: a simulation of the mibel
| Resumo: | We consider a partial equilibrium model where we study the integration of two oligopolistic markets that are not symmetric (in number of firms, in demand or market dimension). We present a simulation for the integration of the Iberian wholesale electricity market (MIBEL) and show how the exercise of market power will evolve with regional full integration. The simulation results show that, as expected, market power is lower after full integration. However, even after full integration, market power is still a feature of the market. There fore, the full benefits of liberalisation and integration are not seized by the consumers since wholesale prices persist to be higher than marginal costs. |
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| Autores principais: | Ferreira Dias, Marta |
| Outros Autores: | Jorge, Sílvia F. |
| Assunto: | MIBEL Market Power Cournot Simulation Model |
| Ano: | 2017 |
| País: | Portugal |
| Tipo de documento: | artigo |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade de Aveiro |
| Idioma: | inglês |
| Origem: | RIA - Repositório Institucional da Universidade de Aveiro |
| Resumo: | We consider a partial equilibrium model where we study the integration of two oligopolistic markets that are not symmetric (in number of firms, in demand or market dimension). We present a simulation for the integration of the Iberian wholesale electricity market (MIBEL) and show how the exercise of market power will evolve with regional full integration. The simulation results show that, as expected, market power is lower after full integration. However, even after full integration, market power is still a feature of the market. There fore, the full benefits of liberalisation and integration are not seized by the consumers since wholesale prices persist to be higher than marginal costs. |
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